Christie's will open an exhibition space in Beijing in the autumn “reflecting their ongoing commitment and growth in China”, despite the softening in the country’s art market since 2015.
Although Christie’s has had an office in Beijing for many years, the larger premises will provide permanent viewing and exhibition facilities. Exact details of the location and an opening date are yet to be confirmed, but Christie’s global president Jussi Pylkkanen says the plan is to launch with an exhibition of international art highlights from Christie’s November New York sales.
This show of faith defies the reported slackening of the Chinese market and economy. This year’s Tefaf Art Market Report concluded there had been a 23% contraction in China’s art market in 2015.
“You’ve got to be proactive, not reactive,” Pylkkanen says. “Last summer’s stock market crash was before the Long Museum in Shanghai bought the Modigliani in New York for $152m and before Asian bidders bought 20% of works during 20th-century week in New York in May. There’s strength in the market.”
Christie’s opened a Shanghai salesroom in 2013, the first international art and antiques auctioneer to be granted a licence to operate independently in the country. Its physical presence in China dates back to 1994 when it opened a Shanghai office.
For now Christie’s will “continue to use Shanghai as the auction hub”, says Pylkkanen, although on the possibility of selling in Beijing adds: “Never say never. One doesn’t know what will happen in future.”
Overseen by Rebecca Wei, Christie’s Asia president, the Beijing opening comes in the same year as Christie’s 30th anniversary in Hong Kong, where it also opened a new exhibition space in March.
